Understanding your coverage requirements is essential when buying car insurance. The minimum coverage required in Florida is among the lowest in the nation. Without enough coverage, you could find yourself with financial obligations that are impossible to pay. This is why it is so important to get more liability coverage than what the minimum provides.
Rates can vary widely depending on where they are located.
Your driving record and state are some of the factors that can impact your car insurance rates. These factors can be difficult to control but you can make steps to reduce your premiums. Avoid speeding tickets as well as at-fault car accidents. These can lead to higher premiums. Insurance companies also offer safety driving programs.
The zip code in which you live can have a significant impact on your auto insurance rates. To determine your premiums, insurers consider the likelihood of car theft or accidents in your locality. You will see an increase in insurance rates if you live near a high crime area. Additionally, parking your car in a garage at night can lower your rates.
Driving record
Your driving record plays a big part in your auto insurance rate, so you should be aware of the different factors that affect it. A clean driving record will result in lower rates than those with tickets or other violations. It's important that you compare all rates and remember that different insurers may offer different rates. NerdWallet gives you a great overview of Orlando's top insurance companies as well as their average rates.
Accidents and traffic violations stay on your record for three to five years, and serious traffic violations can stay on your record for seventy-five years. Florida drivers who aren't involved in an accident can save money and clear their records. You may even be able save money by proving you weren't drunk at the time.
Age
There are many factors that can affect the cost of Orlando car insurance. Young drivers will pay the highest rates, but those in their twenties and thirties will see their rates drop dramatically. Drivers in their 20s will actually pay $3684 less per month than their teenage counterparts. The monthly premium will be lower if a teen is added to the family's car insurance policy.
Premiums for car insurance vary by zip code. You may pay more if your neighborhood is high-crime. In Orlando, for example, premiums for drivers in ZIP codes 32792 to 32808 increase by 23 percent.
Gender
The cost of car insurance can vary depending on whether a driver is male or female. For example, married drivers in Orlando pay $90 less for auto insurance than single drivers. Additionally, married drivers are less likely to make insurance claims, so their rates will also be lower. Widowed drivers will also pay less than single drivers, but the cost of car insurance in Orlando may vary from one provider to the next.
Younger drivers tend to pay higher rates than older ones, so it is crucial to shop around before you purchase insurance. For drivers over 50, car insurance is very affordable in Orlando. Drivers under 25 years old will have to pay more because they are less experienced. If you add a teenage driver to your policy, the cost of insurance will increase.
Coverage limits
There are many reasons that a driver might wish to increase their coverage limit on Orlando's car insurance. Some drivers opt to increase their liability limits. Others choose to cover more bodily injuries. Whatever your reason is, it's best to shop around and get quotes from several companies. It's also smart to take advantage of any discounts that car insurance companies offer.
First and foremost, Florida state law requires drivers to carry at least the state's minimum liability limits of $10,000 for bodily injury and $20,000 for property damage. Although this limit is very low, it can leave drivers with significant out-of-pocket expenses. Some vehicles have higher limits than these minimums.